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The global swine feed market size is predicted to reach USD 148.17 billion by 2027. The increasing commercialization of swine feed products owing to the inflated demand for high-quality pork meat will promote the growth of the market during the forecast period, mentioned in a Fortune Business Insights™ report, titled “Swine Feed Market Size, Share & Industry Analysis, By Type (Starter Feed, Sow Feed, and Grower Feed), Additives (Vitamins, Amino Acids, Antibiotics, Enzymes, and Others), Form (Pellets, Mash, and Crumbles), and Regional Forecast, 2020 – 2027” the market size stood at USD 117.54 billion in 2019 and is expected to exhibit a CAGR of 3.06% between 2020 to 2027.
Unveiling of Kent’s NutriVantage to Accelerate Market Potential
Kent Nutrition Group, an animal nutrition company based in Iowa, announced the launch of a new line of supplements for pigs called NutriVantage Nutrition Optimizer. The new supplement is a unique blend of natural ingredients and packed with vitamins and minerals for performance. The launch of the new product line by the company is expected to have a positive effect on the market due to Kent’s field test and research-driven products for animal health. Moreover, the ongoing trials and research to improve immunity and incite healthy gut in animals will escalate the pork industry, which, in turn, will propel the market. Furthermore, the increasing R&D by prominent companies to improve the quality and improve growth in pigs will subsequently favor the growth of the market. For instance, in June 2017, DuPont Industrial Bioscience, a leader in biotechnology announced the launch of an adaptive swine feed additive “DuPont Syncra SWI”. The feed additive will be used especially for the purpose to provide nutrition and improve amino acid and energy digestibility in pigs, thus reducing the feed cost and enhance growth in swine.
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Introduction of Innovative Supplements and Feed Additives to Positively Influence Growth
The rising focus of OEMs to enhance pig’s health and obtain high-quality yield growers for complete nutrition to swine will enable speedy expansion of the market. The launch of innovative supplements and swine probiotics to aid farmers to achieve maximum yields is expected to incite market development. The launch of feed premixes, high-quality feed ingredients, and additives for proper health and development of pigs will foster the growth of the market. The growing awareness about the nutritional requirements of pigs will impel farmers to adopt swine feeding systems for the healthy growth of animals. However, the occurrence of swine diseases such as African Swine Fever (ASF), Porcine Epidemic Diarrhea (PED), and others will consequently dampen the growth of the market in the forthcoming years. Also, the growing inclination of consumers towards vegan and vegetarian diets is likely to retard market growth.
Adoption of Marketing Strategies by Companies to Enhance Feed Distribution
The global swine feed market is steered by the existence of large players such as BASF SE, Alltech Inc., Archer Daniels Midland Company, Cargill Incorporated, and Lallemand Inc. The strong foothold of these companies is allowing them to adopt numerous strategies such as merger & acquisitions, joint ventures, the launch of custom-made feed products, and supplements to strengthen their position in the market. Moreover, the emergence of regional and local players can be an essential factor in spurring new opportunities in the market. The expansion of product portfolio and ongoing R&D investment by eminent companies will significantly benefit the global market in the foreseeable future.
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Value (USD Billion)